So
many are its lies, that narrowing them down to three of the most
important is a demanding task. But our current crisis has been chiefly
enabled by monetary policy, fiscal policy, and the global military
empire. So I have chosen to focus on lies about each: the Federal
Reserve, the orchestrator of monetary policy; the U.S. budget, the
accounting of government fiscal policy; and a few of the Empire’s
war lies. I am sharing just a smattering of this astonishing record
of duplicity in these areas, for life is short, or at least far
too short to recount all of the state’s lies about each.

Lie
#1: The Federal Reserve Is a Bank

Practically
everything the government says about banking is a lie. Central banks
are not banks. The Federal Reserve, the central bank of the United
States, is not a bank.

A bank is a
company in the free economy that competes with other banks offering
willing customers a safe place to make deposits and earn an interest
rate return, while also competing to offer loans from those deposits
to willing borrowers.

Central banks
are government-created bureaucracies that do nothing of the sort.

The Federal
Reserve is typical of central banks. It is not a free market institution
in which people willingly make deposits. Instead, it wields monopoly
power over actual banks. In place of managing deposits and loans
of its own, it creates money out of nothing by a variety of means
including debt monetization, in which it buys government debt by
simply creating a credit in the account of a commercial bank with
nothing more than a booking entry. This is an act made possible
only by the state’s grant of a legal monopoly empowering the central
bank to do what, if done by a private bank, would be a crime called
counterfeiting.

Central banks
thus have the ability to unilaterally boom and bust their economies
at will. And they have done so throughout their history, either
to the benefit of the commercial bank cartels, in response to political
pressure, or because of outright economic ineptitude .